Just Insure, Inc., a pay-per-mile auto insurance carrier and subsidiary of SF Insuretech Inc., has received regulatory approval to launch its Personal Auto Program in Nevada. The move marks a strategic expansion beyond its original market in Arizona and aligns with the company’s measured approach to growth through increased geographic reach and diversified distribution.
Submitted on February 12, 2025, and approved on April 16, 2025, the Nevada filing introduces both Per Mile and Fix Price policies. These cover standard protections including liability, medical payments, uninsured motorist, and physical damage coverage. While there are no disclosed figures on policyholders or program size in Nevada, this initial filing lays the groundwork for scaling the company’s offering in the state.
Securing approval involved multiple regulatory rounds with Nevada’s Division of Insurance. Just Insure modified underwriting criteria, including shortening the violation lookback period from 59 to 36 months and reclassifying certain low-BAC impaired driving incidents as non-major violations. The company also refined its ScoreSafe v.3.0 telematics model documentation and clarified its Credit Retention Factor methodology. Other changes included revised insurance cards, updated cancellation policies, and digital consent mechanisms for optional coverages.
The filing also formalized Just Insure’s initial rate structure in Nevada. While it included forms like the “Notice of Premium Increase,” this was not a rate hike but rather part of establishing the program’s foundational pricing. Vendor partners cited include Safety Holdings and Equifax, and rate comparisons were drawn from Progressive, GEICO, and State Farm.
Operationally, Just Insure reported $3.5 million in earned premiums for 2024—a 16% year-over-year increase. The company achieved profitability with $151,147 in net income, reversing a $375K loss in 2023, supported by a lower loss ratio and disciplined expense management. As of year-end 2024, total assets reached $4.9 million, capital surplus stood at $1.7 million, and the company maintained a strong risk-based capital ratio of 731%.
The Nevada entry was enabled by a $500,000 capital contribution from its parent, and further financial support included a $4.975 million convertible note raise completed in February 2025. A $30 million equity round is planned for Q2 to fuel continued growth.
The company maintains a lean operational model with no direct employees; instead, it leverages a services agreement with its parent to handle all business functions. Looking ahead, Just Insure plans to deepen its presence in Arizona, expand partnerships with online aggregators and traditional agents, and introduce payment plans that enhance cost predictability for policyholders.